Debenhams

Assets

For 2015 is the second in value retail network of department stores in Great Britain. The Debenhams network contains:

• 188 department stores in Great Britain and Ireland,
• 6 Magazin du Nord department stores in Denmark and also
• 69 department stores in 28 other countries of the world, including Russia.

History

2021: BooHoo purchased Debenhams company for $75.1 million - closing of shops, dismissal of employees

At the end of January, 2021 it became known that the British online retailer BooHoo purchased Debenhams company for £55 million ($75.1 million). About 12 thousand employees working in 124 department stores across all Great Britain will lose work.

BooHoo which also buys the Maine, Mantaray, Principles and Faith brands, stated that the remained Debenhams shops will be closed after the termination of a lokdaun, however they can be open for some time for a sale of stocks.

Debenhams network by which 243 years, it is closed after the administration did not manage to conclude the bargain on rescue of business and the remained 124 shops in 2020. The company already announced that six of these shops will not open after end of a lokdaun, including flagman department store on the London Oxford Street.

BooHoo purchased Debenhams company for $75.1 million, shops will be closed and about 12 thousand employees are dismissed

BooHoo purchased all belonging Debenhams of the intellectual property right, including data of buyers, a part of contacts and the connected business information. According to the chief executive of Boohoo Mahmoud Kamani, BooHoo is going to restart Debenhams online store in the first quarter 2022 to expand the customer base for a customer account of network in such categories as sports goods, goods for beauty and health and also goods for the house. As of January, 2021, the Debenhams website has 300 million visitors annually that does it by one of 10 best retail websites in Great Britain on attendance.

The CEO of Boohoo John Littl noted that the company still "works on digits", in particular analyzes how many jobs can be saved, however meanwhile there are no specific digits. It is expected that some jobs in the field of beauty will be saved.

Littl also told that Debenhams will work as digital "show-window" for the Boohoo brands, including Pretty Little Thing and Nasty Gal and also for third-party brands.^[1]

2015: Purchase of Stockmann shops in Russia

In November, 2015 the Finnish Stockmann group announced sale of 7 shops in Russia – Moscow, Yekaterinburg, excepting Shopping Center Nevsky in St. Petersburg. The Reviva Holdings Limited company owning Russian the franchisee network of Debenhams department stores acted as the buyer.

Other shops of Lindex network retail business of Stockmann in Russia will be closed according to the plan in the summer of 2016^[2].

Reviva will purchase 100% of JSC Stockmann, the Russian subsidiary company Stockmann PLC, for 5 million euros which will be paid in cash, said in the message of the company.

"Our Russian retail - business was unprofitable within the last several years, and considerable devaluation of ruble increased our losses", - Per Telin, the CEO of Stockmann said.

Stockmann intends to focus on the real estate market in Russia and will save management in Shopping Center Nevsky in St. Petersburg. The transaction is going to be closed till January 31, 2016 after receiving approval of Federal Antimonopoly Service of the Russian Federation. Stockmann according to the results of the transaction will write off 75 million euros one-time costs.

Reviva will start management of the bought shops since the beginning of February, 2016 and will acquire the right to use a brand Stockmann in Russia within two years from the moment of closing of the transaction.

During this time Reviva is going to translate gradually shops under the Debenhams brand.

2011: Debruss becomes the exclusive franchisee in Russia

The Debruss company is an exclusive franchisee of retail network of the Debenhams brand in the territory of Russia since 2011. One of co-owners of the company are Yakov Panchenko and Nick Hill.

1778: Foundation of the company

The Debenhams company was founded in 1778 in London, and department store, in its modern type, works since 1905.

Notes